Paylocity (NASDAQ:PCTY) Announces Earnings Results

Paylocity (NASDAQ:PCTY) issued its earnings results on Thursday. The software maker reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.19, Briefing.com reports. Paylocity had a net margin of 14.74% and a return on equity of 22.40%. The company had revenue of $357.30 million for the quarter, compared to the consensus estimate of $350.29 million. During the same period in the previous year, the firm earned $0.76 earnings per share. Paylocity’s quarterly revenue was up 15.8% compared to the same quarter last year. Paylocity updated its FY 2025 guidance to EPS and its Q1 2025 guidance to EPS.

Paylocity Stock Up 6.7 %

NASDAQ PCTY traded up $9.86 on Friday, hitting $158.09. 1,074,054 shares of the stock were exchanged, compared to its average volume of 489,055. Paylocity has a fifty-two week low of $129.94 and a fifty-two week high of $217.13. The company has a market cap of $8.92 billion, a PE ratio of 45.96, a PEG ratio of 2.59 and a beta of 0.92. The company has a 50-day moving average price of $140.64 and a 200-day moving average price of $156.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Truist Financial reduced their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler reduced their price target on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research note on Friday. Barclays reduced their price target on shares of Paylocity from $178.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, TD Cowen reduced their price target on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.41.

Insiders Place Their Bets

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the transaction, the chief accounting officer now owns 4,751 shares of the company’s stock, valued at approximately $659,106.23. The disclosure for this sale can be found here. Insiders sold 51,173 shares of company stock worth $7,296,388 in the last 90 days. Corporate insiders own 22.50% of the company’s stock.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.